Comet Ridge Ltd · ASX:COI
Comet Ridge — Noosa Mining Conference 2022
19 slides from Comet Ridge's conference presentation, Nov 10, 2022
Slide 1: Noosa Mining Conference Presentation
For personal use only Noosa Mining Conference Presentation by: Noosa Mining Conference Tor McCaul, Managing Director Presentation by: Tor McCaul, Managing Director 10 November 2022 10 November 2022
Slide 2: Important notice and disclaimer
COMET RIDGE | A compelling east coast gas play Important notice and disclaimer For personal use only Disclaimer Future performance This presentation (Presentation) has been prepared by Comet Ridge Limited (ABN 47 106 092 577) (Comet This Presentation contains certain “forward-looking statements”. Fo
Slide 3: EnergyQuest: Gas price cap would remove 700PJ of future gas production
COMET RIDGE | A compelling east coast gas play EnergyQuest: Gas price cap would remove 700PJ of future gas production For personal use only EnergyQuest study findings: “High gas prices helped to increase east coast supply over the past year, but….. …. predicts “a tortured path ahead” as supplies sti
Slide 4: Delivering on strategy: building gas reserves for east coast market
COMET RIDGE | A compelling east coast gas play Delivering on strategy: building gas reserves for east coast market For personal use only Mahalo East Material (Target 2023) growth in 3P Reserves Mahalo North (Nov 2022) MGP - APLNG interest (June 2022) Mahalo Gas Project (MGP) Net 3P Reserves (July 20
Slide 5: Comet Ridge: Focused on the Mahalo Gas Hub
COMET RIDGE | A compelling east coast gas play Comet Ridge: Focused on the Mahalo Gas Hub For personal use only 1 Targeting a meaningful gas supply into the strained east coast gas market. 2 Progressing 100% owned Mahalo North for early gas production scheme. 3 Mahalo Gas Project progressing to deve
Slide 6: Corporate overview
COMET RIDGE | A compelling east coast gas play Corporate overview For personal use only Share price Market capitalisation COI Share Price and Volume - last 12 months $0.175 $177m $0.25 10.0m $0.20 9 November 2022 7.5m Shares on issue Warrants $0.15 1,010m 65.9m* $0.10 5.0m +3.2m performance rights A
Slide 7: Mahalo Gas Hub
COMET RIDGE | A compelling east coast gas play Mahalo Gas Hub Current 2P + 2C of 375 PJ For personal use only Mahalo Gas Hub COI Net Contingent Size Net Reserves* permits interest Resources* km2 % 2P 3P 2C 3C Mahalo JV 468 57.14% 152 262 - - (PL 1082/1083) Mahalo JV ext 521 57.14% - - 180 294 (PCA 3
Slide 8: Mahalo Gas Hub: path to production
COMET RIDGE | A compelling east coast gas play Mahalo Gas Hub: path to production For personal use only Mahalo JV - certified Mahalo area can be a gross 2P Gas Reserves Certified new Reserves at low cost, high production, of 266 PJ. Equal to 60 Mahalo North (43 PJ of 2P multi-year gas hub TJ/d produ
Slide 9: Building Gas Reserves at Mahalo Gas Hub
COMET RIDGE | A compelling east coast gas play Building Gas Reserves at Mahalo Gas Hub Building a large 2P and 3P Gas Reserve Portfolio For personal use only • Gas Reserves* have now been certified for: 2P Reserves 3P Reserves • Mahalo Gas Project (COI 57.14%) Total Mahalo • Mahalo North (COI 100%)
Slide 10: Focused on moving Mahalo Gas Hub into production
COMET RIDGE | A compelling east coast gas play Focused on moving Mahalo Gas Hub into production For personal use only Mahalo area can be a major east coast hub – proven gas rates close to infrastructure in the east coast market • High productivity shallow reservoir = lower capex and lower cost gas •
Slide 11: Mahalo North is now the best pilot well in the Mahalo Gas Hub area
COMET RIDGE | A compelling east coast gas play Mahalo North 1 is now the best pilot well in the Mahalo Gas Hub area For personal use only • Mahalo North 1 (100% block) • In-seam length of 1,884 metres in a confirmed extension of the high productivity fairway • Gas production: 1.75 MMcfd • The ultima
Slide 12: 100% held Mahalo North moving from appraisal to development phase
COMET RIDGE | A compelling east coast gas play 100% held Mahalo North moving from appraisal to development phase For personal use only Single-well production test Pilot well achieved achieved ‘world class’ 1.75MMcfd - highest results and confirmed high recorded gas flow in the productivity fairway e
Slide 13: Mahalo Gas Project: simplified joint venture (between Comet Ridge and Santos)
COMET RIDGE | A compelling east coast gas play Mahalo Gas Project: simplified joint venture (between Comet Ridge and Santos) For personal use only • Significantly simplified JV structure with material equity positions for Comet Ridge and Santos: • Santos commercially engaged as Operator and via rece
Slide 14: Mahalo East: appraisal plan
COMET RIDGE | A compelling east coast gas play Mahalo East: appraisal plan For personal use only • Initially drill one or two core wells to obtain key coal data • Drill lateral pilot well in 2023 and production test (similar to Mahalo North pilot this year) • Objective to book reserves, adding to Co
Slide 15: Galilee Basin: 4740 km2 for the next big gas play?
COMET RIDGE | A compelling east coast gas play Galilee Basin: 4740 km2 for the next big gas play? For personal use only • Comet Ridge has a large position in the Galilee Basin: • 100% interest in Shallows (CSG interests) • 70% interest in Deeps (Sandstones) – in joint venture with Vintage Energy • L
Slide 16: Appendices
For personal use only Appendices
Slide 17: Competent Person Statement
COMET RIDGE | A compelling east coast gas play Competent Person Statement For personal use only Competent Person Statement and ASX Listing Rules Chapter 5 - Reporting on Oil and Gas Activities The estimate of Reserves and Contingent Resources for the Mahalo Gas Project provided in this Presentation,
Slide 18: Directors - proven gas development and production backgrounds
COMET RIDGE | A compelling east coast gas play Directors - proven gas development and production backgrounds For personal use only James McKay Tor McCaul Gillian Swaby Chris Pieters Martin Riley Shaun Scott Non-exec Chairman Managing Director Non-Exec Director Executive Director Non-Exec Director No
Slide 19: For more information
For personal use only FOR MORE INFORMATION Telephone: +61 7 3221 3661 Email: info@cometridge.com.au Level 3, 410 Queen Street Brisbane Queensland 4000 cometridge.com.au